Solidarity Saudi Takaful losses increased by 59%, reaching 69.844 million riyals for the year 2020 compared to 43.921 million riyals losses in 2019.
According to Arabiya Net, the company attributed the increase in its losses to the decrease in written premiums of 13.72%, and the increase in net claims incurred, with an increase of 28.71%, and an increase in administrative and general expenses For policyholders, with an increase of 43.61% and an increase in the administrative and general expenses of shareholders, with an increase of 438.04%. Therefore, the increase compared to the previous year in the total administrative and general expenses of policyholders and shareholders for the current year, with an increase of 52.07%.
and attributed the increase in losses to the decrease in the income of shareholders' investments, with a decrease of 51.10%.
